Posted by kahhoeng > 2021-09-12 12:18 | Report Abuse

no matter how good the result is going to be, hibiscus shareholders are heavily conned by the heavily diluted NA post CRPS

Posted by zhangzuode > 2021-09-12 14:55 | Report Abuse

Warren Buffett responded Jeff by saying, “Because nobody wants to get rich slow.” -
twynstar, thank you very much. I think this explain most of "investors" now.

And your advises on investing in the O&G is most pointed. I would add that it will be the investment of a lifetime too (for me, a mid-60s, at least).

Happy investing and peace.

Posted by unomi12 > 2021-09-13 09:17 | Report Abuse

brent is moving up...

Posted by kahhoeng > 2021-09-13 11:16 | Report Abuse

took my first glance into the CRPS, the tranche 2 issued is 203 million @ 0.48 per shares, i.e., roughly 423 million shares issued. Assuming hibiscus average selling price of 0.67, 423 million x (0.67 - 0.48) = 80 million. That means for a 203 million "borrowing" of less than a year, hibiscus is paying 80 million interests. My F**K! wonder if I should continue reading further...

Posted by malpac63 > 2021-09-13 13:05 | Report Abuse

The CRPS price was based on the 5 day closing average price back in November or December. Existing shareholders had ample opportunity to buy at 0.48 in the open market then.

Posted by DickyMe > 2021-09-13 13:29 |

Post removed.Why?

Posted by kahhoeng > 2021-09-13 13:31 | Report Abuse

malpac63, this has nothing to do with other buying hibiscus at 0.48, but why should hibiscus seek financing with such a heavy financial cost!

Posted by malpac63 > 2021-09-13 13:36 | Report Abuse

If they had a rights issue or Private Placement, the price would have been the low 4s. No bank was going to give o&g any loans back then. In hindsight, it is easy for us to be critical of them now.

Posted by Cash999 > 2021-09-13 13:44 | Report Abuse

They’re selling their shares now to accumulate cash to buy back at 30% discount. Only clowns are buying the shares now.

Posted by diuleiloumei > 2021-09-13 16:34 | Report Abuse

brent oil up , but this counter down

Posted by DickyMe > 2021-09-13 17:01 |

Post removed.Why?

Posted by kahhoeng > 2021-09-13 17:51 | Report Abuse

malpac63, if they have been offered to all shareholders with bankers the leftover shares, I believe the offer price will be fairer. Instead, the deal is offered to only certain people/group leading to high possibility of hanky-panky.

Posted by bullmarket1628 > 2021-09-13 17:53 | Report Abuse

Oil rises to one-week high as US supply concerns dominate
Monday, 13 Sep 2021 4:59 PM MYT
https://www.thestar.com.my/business/business-news/2021/09/13/oil-rises-to-one-week-high-as-us-supply-concerns-dominate

SINGAPORE: Oil prices rose for a second session on Monday as concerns over shut outpur in the United States, the world's biggest produces, following damage from Hurricane Ida supported the market, along with expectations for higher demand.
Brent crude rose 67 cents, or 0.9% to $73.59 a barrel, and U.S. West Texas Intermediate(WTI) crude also added 66 cents or 1% to $70.38 at 0633 GMT.

Posted by Jasonn > 2021-09-13 22:09 | Report Abuse

It's easier to criticise now why not offer right issue to shareholders to get a fairer price. However, pls try to understand what's the situation that time， not easy to get loan from bank that time, and the share price that time also around 0.4++ ,anyone can get that price at the open market that time. I also invest some on this stock and will wait patiently for the repsol deal to be completed and see the results to be reflected around q2'22

Posted by bullmarket1628 > 2021-09-14 06:58 |

Post removed.Why?

Posted by Jojobaa > 2021-09-14 14:04 | Report Abuse

I think kahhoeng and cash999 are correct and brilliant. I was wrong. My apologies

Perhaps we can invite the two of them to explain that since they disagree with the move to use the CRPS to fund the purchase consideration for Repsol, maybe we can ask them how would they do it?

Rather secure the funding for the downpayment/proof of funds for 1/4 of the Repsol purchase consideration, or just do not raise funding via CRPS and have no Repsol assets which will triple production?

I trust the two of them will have good strategies and insight.

Posted by kahhoeng > 2021-09-14 14:29 | Report Abuse

Jojobaa, I am not against the use of CRPS, I am against not offering shareholders the right to participate! If shareholders are first asked to have the first right of refusal, it doesn't matter if the exercise price is lower or higher, but it will be fairer.

Posted by Jojobaa > 2021-09-14 14:45 | Report Abuse

Yes sir kahhoeng. So what you meant was that, Hibiscus should not have done a private placement of CRPS but rather a rights issue of CRPS so everyone can participate?

Posted by zhangzuode > 2021-09-14 15:13 | Report Abuse

On 9 September 2020, Hibiscus announced the issuance of CRPS and the rational for this issuance is on page 17. It is very clear that right issue was considered and it will be too dilutive should an acquisition be not concluded.

Please for those still debating on this dilution issue, the CRPS was and is the correct route. CRPS is also open to all shareholders of Hibiscus but must meet the criteria of a "high net-worth". This meant that should an acquisition be not concluded, the money so raised would be returned to those subscribers. Therefore, there is holding risks involved.

Should the aggrieved, after going through the circular so issued (and also approved through an EGM) still feel unhappy, please stop and move on, it is life shortening otherwise, thank you very much.

PEACE.

Posted by twynstar > 2021-09-14 16:32 | Report Abuse

1) It is not easy for small company like Hibiscus to make deal with Big Oil Companies, Shell and Exxon Mobil for Anasuria UK acquisition in 2016 just for USD 52.5 million only.

2) It is not easy for small company like Hibiscus to make deal with Shell and Petronas for North Sabah acquisition in 2018 just for USD 25 million only.

3) It is not easy for small company like Hibiscus to beat bigger company, Medco Energi and make deal with Repsol, Petronas and PetroVietnam for Repsol asset acquisition in 2021 just for USD 212.5 million only.

All of these wont happen if Shell, Exxon Mobil, Repsol, Petronas, Petrovietnam, Hibiscus customers ( BP Oil and Trifigura) didnt trust Hibiscus management team.

Hibiscus will close deal with Repsol at the end of 2021. That means Hibiscus have to issue the third tranche of CRPS within 2 months if they want to. Dr Kenneth and CFO already publicly mentioned that they wont issue CRPS for Repsol acquisition. So let’s see we can trust this management team or not

Posted by zhangzuode > 2021-09-14 18:02 | Report Abuse

twynstar - indeed that is correct. Hibiscus has goodwill with the big boys.

However, there appear to be doubt on the funding of the final payment to Repsol that is now estimated to be just US 100 million from Hibiscus itself. Lets review the situation:

The balance usd 112.5-15(deposit)=97.5 would be from (free) cash-flow of the Repsol assets being acquired that accumulated since 1 Jan 2021, the sales and purchase agreement effective date. This 97.5x4.2=RM409.5m should be well within the acquired assets capability. Please note that the natural gas price has appreciated a lot since.

At the end of FY2021 (30 June 2021), Hibiscus itself had RM136+177=313m. That is, within these 4 to 5 months from 1 Jul 2021 onward, Hibiscus (free) cash flow would need to accumulate RM 107m (exch 4.2).

Of course, Hibiscus would not use all the cash, I would not. So bank loan would / should be utilized. How much, now that is a multi-million question. I speculate about RM 50M bank loan.

Thus I believe Hibiscus will not issue any fresh CRPS for the Repsol deal as mentioned in the youtube session.

Also, I do not see Hibiscus buying anymore asset now. The window for cheap asset sales has closed. Proven wrong here would be most welcomed.

PEACE.

Posted by twynstar > 2021-09-14 21:40 | Report Abuse

@zhangzuode

Totally agree with you.

With current Brent oil and natural gas price, plus some adjustment of capital expenditures (capex), I wont surprise that Hibiscus no need to issue the CRPS and no need borrowings from bank.

AmInvest and PublicInvest estimated Hibiscus will borrow RM 250-340 million from bank.

Posted by bullmarket1628 > 2021-09-15 07:55 |

Post removed.Why?

Posted by Bgt 9963 > 2021-09-15 08:57 | Report Abuse

Oil bullish...

Posted by Cash999 > 2021-09-15 15:09 | Report Abuse

So many smart people explaining the past news, for what? Try explain why the stock price is what it’s today, or for the past 1 year? 15 more days before Q122 ends which will be a good qtr because stable oil price. And as forecasted, oil price will surely stable for the rest of 2021 and prediction of a better 2022.

Posted by Cash999 > 2021-09-15 15:14 | Report Abuse

CEO priority #1 is Shareholder Value. Some of you said H has ‘good Management’. Good my foot!

Posted by sheep > 2021-09-15 15:35 | Report Abuse

Sell sell buy back at 0.60..wakakaka

Posted by bullmarket1628 > 2021-09-16 08:35 |

Post removed.Why?

Posted by diuleiloumei > 2021-09-16 17:21 | Report Abuse

Useless also, bursa goes reverse direction

Posted by Predictor942 > 2021-09-17 00:47 | Report Abuse

tommorow 0.8 GOGOGO hibiscus

Posted by DickyMe > 2021-09-17 00:47 |

Post removed.Why?

Posted by bullmarket1628 > 2021-09-17 07:36 |

Post removed.Why?

Posted by unomi12 > 2021-09-17 09:17 | Report Abuse

those who sell below 65 sen, sorry for your lost.

Oil will continue to move up till year end. TP : 90 sen

Posted by Cash999 > 2021-09-17 10:08 | Report Abuse

Big players are dumping. Ikan Bilis better sell or stay away. You’ll have the chance to buy at cheaper price later.

Posted by derrtan > 2021-09-17 12:57 | Report Abuse

this is really a rubbish counter!! i disposed quite a lot at 0.67 today!hopeless

Posted by izoklse > 2021-09-17 14:51 | Report Abuse

oil price going up but Hibiscus share price hardly move.

Posted by liykkle > 2021-09-17 15:10 | Report Abuse

It's ridiculous! What a joke

Posted by DickyMe > 2021-09-17 20:24 |

Post removed.Why?

Posted by bullmarket1628 > 2021-09-18 08:03 | Report Abuse

泰2022或全面开放 打两针免隔离.
就等大马亮绿灯
独家报道: 王义展 攝影: 陈友晋

Posted by bullmarket1628 > 2021-09-18 08:04 | Report Abuse

https://www.kwongwah.com.my/20210917/泰2022或全面开放-打两针免隔离·就等大马亮绿灯/

Posted by clc689 > 2021-09-19 15:36 | Report Abuse

The Report mentioned "Repsol Asset Acquisition is anticipated that the transaction will be completed by the end of calendar year (“CY”) 2021. However, given that the effective date of the Proposed Acquisition is 1 January 2021, all economic benefits and risks from that date will accrue to the Group upon completion of the transaction."

Does it mean that coming Quarter 1 or 2 FY22 will fully include Repsol whole CY21 contribution in just a quarter earning after complete acquisition?

Since part of acquisition fund from Repsol FY21 Cash Flow and I do believe there'll one lump sum Accrued Earning incorporate in just a quarter earning after complete acquisition if my understanding correct.

Posted by bullmarket1628 > 2021-09-22 06:51 |

Post removed.Why?

Posted by bullmarket1628 > 2021-09-23 06:59 |

Post removed.Why?

Posted by jenq123 > 2021-09-24 00:51 | Report Abuse

This counter dun care the oil price. It share price will drop tomorrow. Rubbish

Posted by bullmarket1628 > 2021-09-24 06:51 |

Post removed.Why?

Posted by B4b4 > 2021-09-24 09:18 | Report Abuse

It is time to buy any og stocks. Buy og stocks.

Posted by kenneth241 > 2021-09-24 09:20 | Report Abuse

You will see the true value of hibiscus once travel ban lifted

Posted by kenneth241 > 2021-09-24 09:34 | Report Abuse

Brent oil up liao， today hibiscus0.7？GOGOGO

Posted by kenneth241 > 2021-09-24 09:38 | Report Abuse

https://www.theedgemarkets.com/article/petronas-subsidiaries-benefit-hydrogen-production

Posted by sheep > 2021-09-24 09:41 | Report Abuse

next qr should be very good... buy to keep for two months...
sure win..wakakaka